Amsterdam Trade Bank (ATB) has been declared bankrupt by a Dutch court after the lender and its Russian parent were hit by sanctions imposed by the US and Britain in response to Russia’s assault on Ukraine. A subsidiary of Russia’s… Read More ›
Sanctions
Trade-based financial crime transformed by invasion of Ukraine, pandemic impacts and digitalisation
Russia’s invasion of Ukraine, pandemic-related supply chain disruptions, digitalisation and online trading have transformed the nature and scope of trade-based financial crime according to panellists at a recent Regulation Asia webinar. The webinar aimed at banks in the Asia-Pacific region… Read More ›
Screena and ThetaRay AI partnership promises faster identification of sanctioned entities and individuals
Cyber security and big data analytics company ThetaRay has entered into a partnership with Screena, a fintech that screens individuals and verifies entities against designated sanction lists. Aimed at financial institutions and governments, the ThetaRay system is designed to identify… Read More ›
Russian sanctions create incentives for TBML and illicit trade
Sanctions imposed on Russia create incentives for illicit trade schemes and trade-based money laundering (TBML) involving myriad of illicit methods according to an associate professor at the King’s Russia Institute in London. Alexander Kupatadze, who specialises in organised crime and… Read More ›
Analyse “long-concealed SWIFT data” to sanction Russian oligarchs says TJN
Analysis of “long-concealed SWIFT data” to detect where money has been rerouted to should be used in efforts by newly established task forces to sanction Russian oligarchs and companies according to the Tax Justice Network (TJN). It says efforts to… Read More ›
Russia’s military action in Ukraine triggering slew of new financial crime compliance, sanctions and security measures
A multilateral transatlantic task force to identify, hunt down, and freeze the assets of sanctioned Russian companies and oligarchs has been launched by a coalition of western allies – the European Commission, France, Germany, Italy, the UK, Canada, and the… Read More ›
IHS Markit and TradeSun partner to use data and AI to combat trade-based financial crime
TradeSun, a trade finance platform that features artificial intelligence (AI) technology that augments human behaviour by learning how employees interact with trade finance documents, has partnered with maritime and trade information, analytics and solutions provider IHS Markit, to offer an… Read More ›
Freshly sanctioned Russian entities may turn to established TBML platforms and schemes
Sanctions imposed by western countries, Australia and Japan on Russian banks, oligarchs and other wealthy individuals in response to Moscow ordering troops into separatist regions of eastern Ukraine may prompt sanctioned individuals and entities to contemplate using trade-based money laundering… Read More ›